Considerations in Making Financial Donations
incurable illness. You have just eight weeks to live. On returning home from
the physician’s office, you decide not to go berserk today (perhaps tomorrow),
at least not until you open your mail. There is an envelope with a strange
return address on it, foreign stamps in fact. Opening it first, you learn that
you have inherited several million dollars, being the last living heir to a
European fortune. A quick calculation shows that you cannot possibly spend it
all in eight weeks. Then you decide you do not want to give it either to
friends or relatives?your closest friend recently offended you and your closest
relative died three years ago. Use the six basic policy elements to decide how
you want to dispose of the money.
1.What purpose or goal do you wish to achieve in giving this
gift?
2. Given those goals, who is entitled to the gift?
3. In what form would the gift be given, assuming you could
easily transform it into cash or some other gift?
4. Whom will you select to deliver it?
5. Do you want to give the whole gift at once or just the
interest earned from principal, or do you wish others to help with financing by putting up
some of their own money?
6. If the gift is given in cash, will recipient(s) spend it
for the purpose intended (i.e., interactions in this case between goals and form of
benefit)?
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